New proposals could replace South Africa's current BEE system with a corporate levy or tax surcharge, as economists signal major changes to transformation policy.
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Parent company of Trump's Truth Social posts $328 mln loss
Trump Media and Technology Group, which owns former US president Donald Trump's social media platform Truth Social, lost more than $300 million in the first quarter of 2024, it said Monday. Over the quarter, TMTG -- whose primary asset is the Truth Social network founded by Trump after he was kicked off Twitter and Facebook in 2021 -- generated just $770,500 in sales.
Top US banking regulator offers resignation after toxic workplace report
A top US banking regulator offered his resignation Monday after an independent report found evidence of widespread sexual misconduct and a "patriarchal" culture at the agency he leads.
G7 push to use Russian assets for Ukraine 'vital and urgent': Yellen
It is "vital and urgent" for the United States and allies to find a way to tap immobilized Russian assets in helping Ukraine, US Treasury Secretary Janet Yellen said in prepared remarks released Monday. "I believe it's vital and urgent that we collectively find a way forward to unlock the value of Russian sovereign assets immobilized in our jurisdictions for the benefit of Ukraine," she said.
Cargo ship that destroyed Baltimore bridge towed to port
The cargo ship that collided with a Baltimore bridge nearly two months ago, collapsing it and killing six highway workers, was refloated on Monday and towed back into port.
US inflation fight will take 'further time': senior Fed official
The US Federal Reserve should keep interest rates at their current elevated levels for longer than previously expected due to disappointing recent inflation data, a senior bank official said Monday. "We are not yet all the way to our target of two percent," he said in prepared remarks, noting the "disappointing" recent inflation data.
Ruto on first state visit by Kenyan leader to US in two decades
Kenyan President William Ruto meets his US counterpart Joe Biden in Washington this week, with the crisis in Haiti and efforts to build trade ties likely to top the agenda. Thursday's Biden-Ruto talks will focus on trade and security partnerships including Kenya's pledge to lead a UN-backed multinational mission seeking to restore order in Haiti, which has been wracked by gang-fuelled anarchy.
Crunch time looms for BHP's bid buy Anglo American
Mining behemoth BHP must overcome major hurdles to salvage its faltering pursuit of rival Anglo American, analysts said Monday as a midweek deadline over the seismic takeover bid approaches. BHP did not reply to a request for comment from AFP. Anglo American said: "UK laws restrict us from commenting ahead of the deadline." sft/arb/dan
Markets rise as traders cheered by China property plan
Equities rose Monday, extending a rally in New York that saw the Dow close at a record high, with sentiment boosted by China's plan to support its struggling property sector and hopes for a US interest rate cut.
Black farmers in Brazil changing views on coffee production
Raphael Brandao beams with pride as he describes the high-end Brazilian coffee he produces with beans sourced exclusively from Black farmers in a country where many still associate the product with slavery.
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